France’s Arkema has announced two transactions of very different scales. Both are described as “a new step in the group’s transformation, and is fully in line with Arkema’s ambition to become a pure speciality materials player by 2024”.

The company has agreed to divest its polymethyl methacrylate (PMMA) business to materials player Trinseo for an enterprise value of €1,137 million, or 9.3x estimated EBITDA for 2020. This includes seven sites in Europe and North America, which employ about 860 people and are expected to turn over €510 million this year.